Forum Fodder

Forum Fodder | 07 March 2025

“After decades of being a relative source of predictability, the US is emerging as the single biggest source of economic and geopolitical uncertainty… In the first month of this administration, I would argue [President Trump] has created more uncertainty in markets and the economy than most presidents create in four years. And there’s more to come.” - Ron Temple, Lazard, speaking at Markets Summit 2025 (19 February 2025).

Markets

What if the US leaves the IMF and the World Bank
After withdrawing the US from the Paris climate agreement and the WHO, President Trump may pull the country out the International Monetary Fund and the World Bank. But a withdrawal would primarily harm the US.
Ngaire Woods, Oxford University | Read

Strategies | Markets | As seen at Markets Summit 2025

We must hone our mental frameworks to exploit market gaps
Extraordinary and interrelated developments are unfolding in politics, geopolitics and deep tech innovation. Trump’s disruptive approach has enormous implications for global markets.
Pippa Malmgren, Geopolitica Institute | 0.50 CE | Watch, Listen

Strategies | Markets | As seen at Markets Summit 2025

An investment era is ending – portfolios must adapt or else
The new US administration could upend assumptions about global growth and markets for years to come. Investors need to prepare portfolios now for a new investing era.
Ronald Temple, Lazard | 0.75 CE | Watch, Listen

Strategies | Markets | As seen at Markets Summit 2025

Global Listed Infrastructure bridges the nuclear opportunity gap
The US (and soon rest of world) hasn’t seen this much demand for power since World War 2. While this introduces investment possibilities for many segments, listed infrastructure is disproportionately well-placed to fill this gap.
Mark Jones, Resolution Capital | 0.50 CE | Watch, Listen

Strategies | Markets | Investing | Philosophy | As seen at Strategies Summit 2024

We should use risk factor diversification
Traditional asset allocation is insufficient for addressing investors’ real-world needs. A more dynamic approach to portfolio construction is needed, incorporating risk factor diversification to account for tail risks, and objectives-based investing.
Scott Welch, Certuity | 0.25 CE | Watch, Listen

Strategies | Markets | Investing | Philosophy

Short Course: Mastering private debt investing
Examining the unique characteristics that make private debt a compelling investment. Private debt has grown in popularity as an alternative source of debt financing, with the asset class tripling in size since 2008. Curated and produced by Portfolio Construction Forum, and led by private debt investing subject matter expert, Andrew Lockhart, this self-paced, two-hour online short course equips you with the expertise to navigate private debt investment confidently across diverse market conditions.
Metrics & Portfolio Construction Forum | 2.00 CE | Enrol

Finology | Philosophy | * Premium *

Behavioural Finance: Investment decision-making short course
Led by behavioural finance expert, Herman Brodie, this online, on-demand course completed at your own pace will help you identify, analyse and evaluate the principal human preferences that influence decision-making in situations of uncertainty, so you can recognise and identify these preferences in others, to improve investment decision-making.
Herman Brodie | 8.00 CE (incl 1.00 ethics) | Enrol

Markets

A Sputnik moment for AI?
While America’s AI industry arguably needed shaking up, the news of a Chinese startup beating Big Tech at its own game raises some difficult questions.
Daron Acemoglu, MIT | Read

Strategies | Markets

Caution – mind the gap(s)!
Near- and medium-term gaps in current market narratives and perceptions lead to a simple conclusion. It is time for caution. As an “unconstrained” investor with no one to answer to but myself, my experience suggests three courses of action.
Wayne Fitzgibbon, Thinking Differently |Read

Strategies | Markets

Trump 2.0 will widen the gaps in markets
The 2024 US election result could potentially upend assumptions about global growth and markets in the years ahead. The next four years could be Volatility, Uncertainty, Complexity and Ambiguity (VUCA) on steroids!
Ronald Temple, Lazard | Watch, Listen

Strategies | Markets

Mind the gap(s) in global small caps
With monetary policy easing set to provide an additional tailwind for smaller companies, now is the time for practitioners to consider increasing global small caps exposure in portfolios.
Dennis Walsh, Goldman Sachs Asset Management | Watch, Listen

Finology | Philosophy | As seen at Strategies Summit 2024

It’s only ‘whole’ if it includes human factors
The things that make people, people, are also the things that bind our portfolio construction methods together. We are impacted not only by our biases in behaviour, but also by the biases we hold that we’re not even aware we hold.
Katherine Hunt, Portfolio Construction Forum | Watch, Listen

Markets

Trump’s trade scam
Trump 2.0 is starting where Trump 1.0 ended – with distortions, convoluted logic, and the related risk of major policy blunders.
Stephen Roach, Yale University | Read

Markets | Investing | Philosophy

Thinking Differently: A hell of a year for bonds – Andrew Hunt
The consensus on Wall Street is that the equity market will keep on rising in 2025. But independent economist, Andrew Hunt, thinks differently. He argues that the US corporate sector is highly leveraged and struggling to generate profits, with private credit posing a systemic risk.
Wayne Fitzgibbon, Thinking Differently | Watch

Markets

The Inquisitor: Trump returns at a dangerous time – Woody Brock
The economic damage Trump could cause will be moderate, according to Woody Brock. His bigger concern is what could go wrong with foreign policy under Trump because, in Woody’s view, the probability of a global war is higher than it has been in decades.
Robert Huebscher, Portfolio Construction Forum | Read

Strategies | Finology | Philosophy | As seen at Strategies Summit 2024

A change of perspective is worth 80 (portfolio) IQ points
To gain deeper insights, critical to long-term investing, we must adapt by integrating finance with other disciplines. Adopting a holistic perspective can greatly improve problem-solving, bringing valuable benefits to our clients’ portfolios.
Tassos Stassopoulos, Trinetra Investment Management | 0.25 CE | Watch, Listen

Finology | Ethics

Research Review: The tainted nudge
As the ideas and tools popularised under the banner of “nudge theory” have gained traction in the public and private sectors so, too, have ethical concerns regarding their use. Critics have long questioned the ethics of nudging.
Rob Hamshar, Portfolio Construction Forum | 2.00 CE | Read

Markets

In the long-term irrational markets are fairly easy to beat
In the long-term, the economic realities will apply and irrational markets can be beaten. In the short-term to medium-term the irrational markets can win…
Mark Hayden, Hayden Bourne Financial Services | Read

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